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Check Your Idea by Uncle Bugs

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This is a simple test for you to know if your idea is good enough. Because turning an idea into an innovation take a huge toll on you. It is called tears, sweat and blood. Therefore, before you dive into a project, it is advisable that you spend 10 minutes to take this simple test. It will save you a whole lot of trouble.

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Check Your Idea by Uncle Bugs

  1. 1. CHECK YOUR IDEA <ul><li>By Uncle Bugs </li></ul><ul><li>BarCamp 2009 </li></ul>
  2. 2. <ul><li>This is a simple test for you to know if your idea is good enough. Because turning an idea into an innovation take a huge toll on you. It is called tears, sweat and blood. </li></ul><ul><li>Therefore, before you dive into a project, it is advisable that you spend 10 minutes to take this simple test. It will save you a whole lot of trouble. </li></ul><ul><li>Score 0 to 10 points for each question </li></ul>
  3. 3. <ul><li>Question 1. </li></ul><ul><li>Is your idea new? </li></ul><ul><li>Have you done a patent search? Give yourself lesser point for lower novelty and more points for higher novelty. If you do not know what it meant by novelty score zero for this question. </li></ul>
  4. 4. <ul><li>Question 2. </li></ul><ul><li>What does your friends thinks about our idea? </li></ul><ul><li>What did they say about your idea? </li></ul><ul><li>Cool, </li></ul><ul><li>So so… or </li></ul><ul><li>Nothing great </li></ul>
  5. 5. <ul><li>Question 3. </li></ul><ul><li>Do you think you can make a working model? </li></ul><ul><li>Are you able to think through all the aspect of your project and make a working model? </li></ul>
  6. 6. <ul><li>Question 4. </li></ul><ul><li>Do you have the money to spend on this project? </li></ul><ul><li>Let’s say it will require RM10,000 to buy material to make the working model. Do you have the cash to spare? But please be reminded that once the money is spent, it will not be recovered anytime soon. </li></ul>
  7. 7. <ul><li>Question 5. </li></ul><ul><li>Do you have time to work on this project? </li></ul><ul><li>Let’s say it will take 2 hours a day and 26 weekends to complete this project. Can you do it? </li></ul>
  8. 8. <ul><li>Question 6. </li></ul><ul><li>Are you able to get all necessary help to make this project successful? </li></ul><ul><li>It is often you do not have all the necessary skills to complete your project. Do you have friends to help you? </li></ul>
  9. 9. <ul><li>Question 7. </li></ul><ul><li>Do you know who are your customers? </li></ul><ul><li>Give yourself some points if you know which segment of the market are your customer. And 10 points if you are absolutely sure you can find the customer to place an order with you even before you start manufacturing them. </li></ul>
  10. 10. <ul><li>Question 8. </li></ul><ul><li>Are you sure they will buy your product? </li></ul><ul><li>Will your customers really is going to buy your product? What’s your confident level? </li></ul>
  11. 11. <ul><li>Question 9. </li></ul><ul><li>Do you know the cost to manufacture this product? </li></ul><ul><li>Are you able to do the breakdown cost? </li></ul>
  12. 12. <ul><li>Question 10. </li></ul><ul><li>Are you sure you can make good margin? </li></ul><ul><li>Give yourself some points if your profit margin is more than 30%, and more points if your profit is 50% and above. </li></ul>
  13. 13. MATTER TO PONDER:- <ul><li>HAVE YOU BEEN HONEST YO YOURSELF? </li></ul>
  14. 14. <ul><li>Check Your Idea </li></ul><ul><li>Let’s see your Results </li></ul>
  15. 15. <ul><li>Score 0 to 49 points </li></ul><ul><li>Your idea is worthless. You are in a situation what we call </li></ul><ul><li>“ Shiock sendiri” </li></ul>
  16. 16. <ul><li>Score 50 to 69 points </li></ul><ul><li>Your idea is not good enough. There is still plenty to do. While you are very excited with your new idea but you need to reflect back at the weak points. We suggest you put your idea aside for the time being. Not until such time later when other better ideas comes along, which you could use it to add on and improvise on the original idea of yours. In the mean time, get back to your day job. </li></ul>
  17. 17. <ul><li>Score 70 to 89 points </li></ul><ul><li>You are almost there but not there yet. You are advice to think harder and come up with some more improvement so that your idea will be really attractive to a user. Try to cover all angles and get a “Wow!” factor the minute your friends heard about your idea. At the same time make sure you have enough money and time to work on it. </li></ul>
  18. 18. <ul><li>Score 90 to 100 points </li></ul><ul><li>Congratulations we believe you have the passion to make your dream come true. You should move on to the next stage. Go get some seed funding and make your first prototype. Good luck and remember to buy us a cup of the tarik when you have made your $millions. </li></ul>
  19. 25. THANK YOU <ul><li>[email_address] </li></ul>

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